Mackenzie Financial Corp Takes $1.55 Million Position in Ingredion Incorporated (NYSE:INGR)

Mackenzie Financial Corp acquired a new stake in Ingredion Incorporated (NYSE:INGR) in the 4th quarter, Holdings Channel.com reports. The fund acquired 14,309 shares of the company’s stock, valued at approximately $1,553,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. increased its stake in shares of Ingredion by 40.2% in the fourth quarter. Blue Trust Inc. now owns 359 shares of the company’s stock valued at $39,000 after buying an additional 103 shares during the period. Pflug Koory LLC increased its stake in shares of Ingredion by 0.9% in the fourth quarter. Pflug Koory LLC now owns 12,201 shares of the company’s stock valued at $1,324,000 after buying an additional 112 shares during the period. IFP Advisors Inc boosted its holdings in Ingredion by 33.7% in the third quarter. IFP Advisors Inc now owns 484 shares of the company’s stock valued at $48,000 after acquiring an additional 122 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in Ingredion by 0.9% in the third quarter. D.A. Davidson & CO. now owns 15,322 shares of the company’s stock valued at $1,508,000 after acquiring an additional 131 shares during the last quarter. Finally, Verdence Capital Advisors LLC boosted its holdings in Ingredion by 3.7% in the third quarter. Verdence Capital Advisors LLC now owns 3,731 shares of the company’s stock valued at $367,000 after acquiring an additional 134 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insiders Place Their Bets

In other Ingredion news, CEO James P. Zallie sold 54,581 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $117.24, for a total transaction of $6,399,076.44. Following the transaction, the chief executive officer now directly owns 99,246 shares in the company, valued at approximately $11,635,601.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO James P. Zallie sold 54,581 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $117.24, for a total value of $6,399,076.44. Following the transaction, the chief executive officer now directly owns 99,246 shares in the company, valued at approximately $11,635,601.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Larry Fernandes sold 2,369 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $115.08, for a total value of $272,624.52. Following the completion of the transaction, the senior vice president now owns 28,966 shares in the company, valued at $3,333,407.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,921 shares of company stock worth $6,903,045. Corporate insiders own 1.80% of the company’s stock.

Ingredion Price Performance

Ingredion stock opened at $114.35 on Wednesday. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 1.07 and a beta of 0.81. Ingredion Incorporated has a 52-week low of $89.54 and a 52-week high of $118.83. The stock’s 50 day moving average price is $115.16 and its two-hundred day moving average price is $107.75. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.10 and a current ratio of 1.92.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Ingredion had a return on equity of 18.57% and a net margin of 7.88%. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.65 EPS. On average, equities analysts predict that Ingredion Incorporated will post 9.62 earnings per share for the current year.

Ingredion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 23rd. Shareholders of record on Monday, April 1st were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Thursday, March 28th. Ingredion’s payout ratio is 32.50%.

Analyst Ratings Changes

Several analysts recently commented on INGR shares. The Goldman Sachs Group upgraded Ingredion from a “neutral” rating to a “buy” rating and upped their target price for the company from $122.00 to $135.00 in a report on Thursday, February 15th. StockNews.com upgraded Ingredion from a “buy” rating to a “strong-buy” rating in a report on Friday, March 22nd. Barclays upped their target price on Ingredion from $115.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday, March 6th. Finally, Stephens reiterated an “overweight” rating and issued a $130.00 target price on shares of Ingredion in a report on Wednesday, February 7th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Ingredion presently has a consensus rating of “Moderate Buy” and an average price target of $126.67.

Ingredion Company Profile

Ingredion Incorporated, together with its subsidiaries, manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.